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NOTE 6 –LOANS PAYABLE | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
NOTE 6 –LOANS PAYABLE | NOTE 6 –LOANS PAYABLE Loans payable as of September 30, 2023 and December 31, 2022 consisted of the following:
|  | September 30, |  | December 31, |  |  |  |
|  | 2023 |  | 2022 |  | Term |  | Interest rate
Martus |  | $ | 95,279 |  |  | $ | 94,342 |  |  | Note was issued on October 23, 2018 and due on January 2, 2024 |  |  | 5.0 | %
Darlene Covid19 |  |  | 91,018 |  |  |  | 108,150 |  |  | Note was issued on April 1, 2020 and due on March 31, 2025 |  |  | 0.0 | %
Promissory note payable |  |  | 165,000 |  |  |  | — |  |  | Note was issued April 4, 2023 and due on April 4, 2024 |  |  | 24.0 | %
Total |  |  | 351,297 |  |  |  | 202,492 |  |  |  |  |  |  |
Less: Unamortized debt discount |  |  | (7,500 | ) |  |  | — |  |  |  |  |  |  |
Total loans payable |  |  | 343,797 |  |  |  | 202,492 |  |  |  |  |  |  |
Less: Current portion of loans payable |  |  | (252,779 | ) |  |  | (94,342 | ) |  |  |  |  |  |
Long-term loans payable |  | $ | 91,018 |  |  | $ | 108,150 |  |  |  |  |  |  |
Loans payable - related parties as of September 30, 2023 and December 31, 2022 consisted of the following:
|  | September 30, |  | December 31, |  |  |  |
|  | 2023 |  | 2022 |  | Term |  | Interest rate
49% of Shareholder of SwissLink |  | $ | 19,844 |  |  | $ | 19,649 |  |  | Note is due on demand |  |  | 0 | %
49% of Shareholder of SwissLink |  |  | 218,447 |  |  |  | 216,300 |  |  | Note is due on demand |  |  | 5 | %
Total |  |  | 238,291 |  |  |  | 235,949 |  |  |  |  |  |  |
Less: Current portion of loans payable |  |  | 238,291 |  |  |  | 235,949 |  |  |  |  |  |  |
Long-term loans payable |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
During the nine months ended September 30, 2023, the Company borrowed from a third party totaling $165,000, which includes original issue discount and financing costs of $15,000. During the nine months ended September 30, 2023 and 2022, the Company recorded interest expense of $19,250 and $22,417 and recognized amortization of discount, included in interest expense, of $7,500 and $7,406, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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